08 December 2023 06:46 PM

Trade ministry aims to develop existing industries, luring investments

Tuesday، 16 August 2022 - 12:09 PM

Trade and Industry Minister Ahmed Samir said that his ministry aims to develop the existing industries, luring investments and catering for the Egyptian market's needs.

In a statement on Tuesday, the minister stressed keenness on pursing efforts in this respect, in a way that benefits the national economy and improve the living conditions and daily life of Egyptian citizens.

The newly-appointed trade and industry minister expressed his appreciation of efforts exerted by former trade and industry minister Nevine Gamea, citing several achievements that were made during her tenure.

The Trade Ministry is determined to build on the achievements that have already been accomplished over the past period, he added.

There are a number of files that will top the priorities of the ministry in the coming period, including deepening local industry, increasing the proportions of the local component and securing the necessary production tools to enhance production, he noted.

The current industrial policy will be reviewed, he said, noting that decisive decisions will be taken in this respect with the aim of increasing the competitiveness of the industrial sectors and opening up new markets for the Egyptian product.

The minister said that the multiple challenges associated with the Covid-19 and the Russia-Ukraine war and their consequences require continuous diligent work, with a strong and tireless will in order to develop an economy capable of confronting any future shocks and crises.

He added that he will exert strenuous efforts to implement President Abdel Fattah El Sisi's directives to the new ministers to consolidate the principle of efficiency, and to make the utmost effort as a consistent management approach to advance the nation's interest in the first place.

The upcoming period will witness more coordination with the business community to devise an all-out plan for the upcoming period, he concluded.


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